Michael Hudson: The economics of neofeudalism

UPDATED: The third part of what had been three videos has been pulled from the web, so only the first and second parts remain. Odd.

Michael Hudson — esnl‘s favorite economist — talks with Max Keiser about the economic policies of the emerging neofeudalism, driving most of us back to the role of serfs to an aristocratic elite of inherited and new money. Productivity is up, but labor rates stagnate, with employees forced to work longer hours and at a faster pace for no increase in pay while managers and owners capture ever larger shares of the national wealth.

Hudson notes that in the new global financial order, international looters, backed by the IMF, play the role armies did in the past, invading nations and seizing their assets. And when the military does go to war, it’s other nations who foot the bill through their purchases of our debt